PETALING JAYA: Regal Path Sdn Bhd has secured syndicated banking facilities of up to RM1.1 billion for the acquisition of Pavilion Bukit Jalil mall from Malton Bhd’s wholly owned subsidiary Pioneer Haven Sdn Bhd.
Regal Path said in a statement that it had on Oct 10 signed the facilities agreement with four banks, namely CIMB Bank Bhd, Malayan Banking Bhd, OCBC Bank (Malaysia) Bhd and United Overseas Bank (Malaysia) Bhd. The four banks are also the joint mandated lead arrangers.
With an estimated net lettable area of 1.8 million sq ft, Pavilion Bukit Jalil mall is part of the 50-acre Bukit Jalil City integrated lifestyle project developed by Malton. The mall is expected to be completed by March 2021.
Regal Path is a joint venture company of Malton’s wholly owned subsidiary Khuan Choo Realty Sdn Bhd, Qatar Investment Authority’s (QIA) wholly owned subsidiary Q PBJ Sdn Bhd, and Tan Sri Desmond Lim via his private vehicle Jelang Tegas Sdn Bhd.
The three strategic investors had on May 28 entered into a subscription agreement with Regal Path to participate in the ownership of Pavilion Bukit Jalil mall.
